December 28, 2016 / 5:04 AM / 8 months ago

Italy - Factors to watch on Dec. 28

The following factors could affect Italian markets on Wednesday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

For a complete list of diary events in Italy please click on .

WEDNESDAY DECEMBER 28

ECONOMY

ISTAT releases December business and consumer confidence data (0900 GMT).

DEBT

Treasury sells 6.5 billion euros 6-month BOT bills. Subscriptions close at 1000 GMT.

COMPANIES

Bourse After Hours market closed.

ITALIAN BANKS

Twenty billion euros earmarked by the Italian government would be enough to cover funding requirements at all the ailing banks currently under observation by the Treasury and the Bank of Italy, a Treasury source said on Tuesday.

Rescuing its third-biggest lender, Monte dei Paschi di Siena , will likely cost Italy more than initially expected as the European Central Bank has revised the bank's capital shortfall, sources said earlier on Tuesday.

MONTE DEI PASCHI DI SIENA

Credit ratings agency Moody's reviewed on Tuesday the lender's standalone baseline credit assessment (BCA) for upgrade, up from a previous review with direction uncertain. The decision was taken as the rating agency expects that the bank will improve its credit profile following the mandatory debt swap offer and the precautionary recapitalisation by the Italian government. (*) Despite Monte dei Paschi's capital shortfall of 8.8 billion euros, the ECB may agree to a recapitalisation of around 5 billion euros if there is a convincing business plan accompanying that cash call, especially as regards the sale of the bank's gross bad debts, Corriere della Sera said. (*) The Treasury will need to find a partner for Monte dei Paschi and may need to look abroad to find one, Il Messaggero said, pointing to BNP Paribas, SocGen, Santander, Bbva and Nordea as potential candidates. (*) MEDIASET

There is risk that Vivendi's stakebuilding in broadcaster Mediaset is aimed at paralysing the governance of an important company in a delicate sector, Industry Minister Carlo Calenda told La Stampa in an interview. He reiterated that Vivendi's move was "very opaque" and the government had a negative view on the way the operation was done, but this doesn't mean that it would seek to alter the market rules or that there would be a public intervention in the matter.

(*) INTESA SANPAOLO

The lender is said to have decided on a shortlist of potential buyers for its bad loan portfolio worth a gross 2.5 billion euros, il Sole 24 Ore said. The list primarily includes major U.S. funds such as Cerberus and Apollo, the paper added.

UNICREDIT

The Italian bank and SIA have finalised the sale of the lender's card processing activities in Italy, Germany and Austria for 500 million euros cash.

FINCANTIERI

The Italian shipbuilding and construction group is the only bidder for shipping group STX France, a source close to the matter said on Tuesday.

MEDIOBANCA

The bank's Creditech unit finalised the acquisition of two non-performing loan portfolios from Banco Desio and Banca Popolare di Spoleto, for a total nominal value of 150 million euros.

ABITARE IN SPA

Board meeting on FY results (closed on Sept. 30).

TBS GROUP

Bond holders' meeting (1330 GMT).

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............

20 biggest losers (in percentage).............

FTSE IT allshare index

FTSE Mib index........

FTSE Allstars index...

FTSE Mid Cap index....

Block trades..........

Stories on Italy...... IT-LEN

For pan-European market data and news, click on codes in brackets: European Equities speed guide................... FTSEurofirst 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurofirst 300 sectors................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Reuters survey of world bourse outlook......... Western European IPO diary.......................... European Asset Allocation........................ Reuters News at a Glance: Equities............... Main currency report:...............................

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below